On March 1, Terrell & Associates provides legal services to Whole Grain Bakery regarding some...
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On March 1, Terrell & Associates provides legal services to Whole Grain Bakery regarding some recent food poisoning complaints. Legal services total $10,100. In payment for the services, Whole Grain Bakery signs a 10% note requiring the payment of the face amount and interest to Terrell & Associates on September 1.
On March 1, Terrell \& Associates provides legal services to Whole Grain Bakery regarding some recent food poisoning complaints. Legal services total $10,100. In payment for the services, Whole Grain Bakery signs a 10% note requiring the payment of the face amount and interest to Terrell \& Associates on September 1. Required: For Whole Grain Bakery, record the issuance of the note payable on March 1 and the cash payment on September 1. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the payment of note payable and interest. Note: Enter debits before credits. On March 1, Terrell \& Associates provides legal services to Whole Grain Bakery regarding some recent food poisoning complaints. Legal services total $10,100. In payment for the services, Whole Grain Bakery signs a 10% note requiring the payment of the face amount and interest to Terrell \& Associates on September 1. Required: For Whole Grain Bakery, record the issuance of the note payable on March 1 and the cash payment on September 1. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the issuance of the note payable for the legal services received. Note: Enter debits before credits
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